Hypoparathyroidism Treatment Market Size Forecast to Reach $1.3 Billion by 2026
Hypoparathyroidism Treatment Market size is forecast to reach $1.3 billion by 2026, growing at a CAGR of 8.3% during the forecast period 2021-2026. A low level of parathyroid hormone is produced by hypoparathyroidism. Parathyroid hormone maintains and regulates the balance between calcium and phosphorus. The decrease in the calcium level and increase in the phosphorus level in the body is caused by little production of parathyroid hormone in the body that cannot cause any serious problem if diagnosed in the earlier phase. Hypoparathyroidism occurs in adults with a sign as poor tooth development, headaches, and mental disorders. The rising prevalence of autoimmune disease and growing cases of neck surgery are the major factors driving the growth of the market. Extensive cancer radiation treatment on the neck or face and new technology advancements for the treatment of hypoparathyroidism is set to further enhance the overall market development for the Hypoparathyroidism Treatment Market for the period 2021-2026.
Hypoparathyroidism Treatment Market Segment Analysis – By Diagnosed Type
Low Blood Calcium Levels held the largest share in the Hypoparathyroidism Treatment Market in 2020 and are estimated to grow at a CAGR 8.7% during the forecast period 2021-2026. Hypoparathyroidism is a disorder during which the parathyroid glands present within the neck secrete low levels of parathormone and leads to an abnormally low level of calcium in the blood which adversely affects many physiologic processes. Calcium supplies electrical energy that is needed for normal muscle contraction and nervous system functions. Symptoms such as dysfunction of the nerves and muscles arise from hypocalcemia that ranges from mild to severe. Low blood calcium levels are set to the highest growing segment and are estimated to register the highest CAGR over the period 2021-2026.
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Hypoparathyroidism Treatment Market Segment Analysis – By Treatment Type
Tablet held the largest share in the Hypoparathyroidism Treatment Market in 2020 and is estimated to grow at a CAGR 7.6% during the forecast period 2021-2026. Tablet for hypoparathyroidism treatment includes oral calcium carbonate tablets. Oral calcium supplements increase calcium levels within the blood and can cause gastrointestinal side effects like constipation in some people. Alfacalcidol and Rocaltrol are the different types of vitamin D tablets that provide calcitriol. Calcitriol is being converted from Alfacalcidol and is used in the treatment of hyperparathyroidism. Surgery mode is set to the highest growing segment and is estimated to register the highest CAGR over the period 2021-2026.
Hypoparathyroidism Treatment Market Segment Analysis – By Geography
North America dominated the Hypoparathyroidism Treatment Market with a major share of 37.4% in 2020. This is attributed to the increasing thyroid-related diseases and increasing initiatives by pharmaceutical organizations to generate novel formulations. An increasing number of thoracic surgeries and incidence of cancer is increasing the growth of the market in this region.
However, Asia Pacific is estimated to grow at a higher CAGR during the forecast period 2021-2026 owing to the increasing initiatives taken by the government to spread awareness and the presence of generic manufacturers. New technology advancements for the treatment of hypoparathyroidism are increasing the growth of the market in this region.
Hypoparathyroidism Treatment Market Drivers
Increasing Number of Thoracic Surgeries and Incidence of Cancer
An increasing number of thoracic surgeries and incidence of cancer is increasing the growth of the Hypoparathyroidism Treatment Market. This is attributed to the thyroid or neck surgery that is associated with hypoparathyroidism owing to the damage to the parathyroid glands. 39% of thyroidectomies number have increased which indicates it can become permanent in about 25% of cases. Increasing investments in research and development coupled with the development of biologics is also generating momentum and growth opportunities for the market. DiGeorge syndrome includes symptoms such as congenital heart problems, frequent infections, and cleft palate among others. Thus, increasing the growth of the Hypoparathyroidism Treatment Market during the forecast period 2021-2026.
New Drug Development and Government Support
New drug development and government support are increasing the growth of the Hypoparathyroidism Market. This is attributed to the support to hypoparathyroidism treatment products and initiatives by the government of different countries including financial incentives as well as orphan status. Since there is no treatment for hypoparathyroidism, so symptomatic treatment is the chief goal of hypoparathyroidism treatment and any new hypoparathyroidism treatment drug can witness fast adoption with minimal resources owing to the lack of competition in the market. Thus, increasing the growth of the Hypoparathyroidism Market during the forecast period 2021-2026.
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Hypoparathyroidism Treatment Market Challenges
Lengthy Clinical Approval Cycles
Some of the factors that are set to impede the growth of the Ion Exchange Membrane Market are lengthy clinical approval cycles and most trials that do not fulfill treatment guidelines established by regulatory authorities.
Hypoparathyroidism Treatment Market Landscape
Product launches, mergers, and acquisitions, joint ventures, and R&D activities are key strategies adopted by players in the Hypoparathyroidism Treatment Market. In 2020, the Hypoparathyroidism Treatment Market share is consolidated by the top ten players present in the market. Hypoparathyroidism Treatment Market, top 10 companies are F Hoffman La Roche Ltd., Shire NPS Pharmaceuticals Inc., Abbvie Inc., Sun Pharmaceuticals Ltd., Teva Pharmaceuticals Ltd., Novartis AG, and Glaxosmith Kline PLC among others.
Key Takeaways
North America dominated the Hypoparathyroidism Treatment Market in 2020 owing to the increasing thyroid-related diseases and increasing initiatives by pharmaceutical organizations to generate novel formulations. The Hypoparathyroidism Treatment Market scope for different regions will be provided in the final report.
Increasing number of thoracic surgeries, incidences of cancer, and new drug development are likely to aid the market growth of the Hypoparathyroidism Treatment Market.
Detailed analysis of the Strength, Weakness, and Opportunities of the prominent players operating in the market will be provided in the Hypoparathyroidism Treatment Market report.
Lengthy clinical approval cycles and most trials that do not fulfill treatment guidelines established by regulatory authorities is poised to create hurdles for the Hypoparathyroidism Treatment Market.
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